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Bitcoin investors are eagerly jumping into long positions as they anticipate the Federal Reserve’s interest rate decision on May 7. The market is buzzing with bullish sentiment as traders take strategic positions ahead of this significant event. With the Fed’s interest rate announcement looming, Bitcoin bulls are gearing up for potential price movements. This surge [...]
Bitcoin is poised to obliterate short positions once it surpasses $110,000 and enters a phase of price discovery. This milestone will likely shake up the market and drive even more interest in the leading cryptocurrency. As Bitcoin continues its upward trajectory, many traders who have taken short positions are feeling the pressure. The potential for [...]
Dogecoin has reached $0.15, but its meeting resistance, and its momentum is now fading. Many traders are looking at $0.13 as possible support.
Bitcoin risks going down to $102,700, which could trigger the liquidation of close to $1.45B in long positions.
Crypto whale signals a bearish sentiment on $HYPE altcoin by shorting $648,000 worth of the token through HyperLiquid.
Upon reading the recent news on Cointelegraph, it has come to light that the founder of Mechanism Capital has decided to increase their Bitcoin position substantially. To be exact, they have doubled their Bitcoin holdings, resulting in a $200 million long position. This move demonstrates their strong belief in the potential growth and stability of [...]
The post Mechanism Capital Founder Increases Bitcoin Position to $200M in Bold Move appeared first on Crypto Breaking News.
In the wake of Binance’s departure from Canada, cryptocurrency exchange Bybit has announced its exit from the nation as well, citing “recent regulatory development” as the reason. Effective May 31, Bybit stated that it would cease accepting applications from Canadian residents. Bybit to Pause Operations in Canada According to a Tuesday announcement, Bybit is withdrawing [...]
The post Bybit Follows Binance’s Footsteps, Exits Canadian Market Amid Regulatory Concerns appeared first on Crypto Breaking News.
Paul Atkins, the former SEC Chair during the Trump administration, recently testified at a Senate committee hearing. His appearance shed light on various aspects of financial regulation and policymaking. Atkins, known for his pro-business stance, emphasized the importance of striking a balance between investor protection and fostering market growth. During the hearing, Atkins praised the [...]
The post Paul Atkins on the Verge of SEC Chair Position Despite Challenges: Report appeared first on Crypto Breaking News.
David Sacks, a prominent figure in the crypto industry, has made headlines after selling off his crypto-related assets ahead of the appointment of a crypto czar in the White House. Sacks, a well-known entrepreneur and investor, has been closely watching the developments in the crypto space and decided to divest his holdings before any potential [...]
The post Sacks’s VC Firm Rakes in Over $200 Million from Crypto and Stocks Before White House Position appeared first on Crypto Breaking News.
Qubetics presale surpasses $15M, Gala gains momentum, and Cosmos navigates a critical price levelare these the best crypto for huge gains in 2025?
The post Is Qubetics the Best Crypto for Huge Gains as Presale Surges Past $15M? Gala Expands & Cosmos Tests Key Levels appeared first on Kanalcoin.
As the facilitators of the network’s security and transaction verification process, Bitcoin miners significantly influence the supply of BTC in the market. This is why no market analysis can be complete without analyzing the changes in miners’ balances and activity. Firstly, changes in miner balance and activity provide insight into the sector’s economic health and […]
The post Bitcoin maintains price resilience despite increased miner selling appeared first on CryptoSlate.
Core Scientific said favorable market conditions have increased its liquidity position and its bankruptcy restructuring plan has been revised.
Despite Bitcoin recently breaking through the $28,000 resistance level, the crypto market has been relatively flat for the past month. The lack of volatility in the historically aggressive market has been an underlying trend evident in several on-chain metrics. Bitcoin hodlers have been capitalizing on this sideways price movement, continuing the steady accumulation that’s been […]
The post Bitcoin’s illiquid supply hits all-time high as hodlers continue to accumulate appeared first on CryptoSlate.
Bankman-Fried has only a matter of days to meet document requirements before his appearance in court next week.
On-chain data shows the Bitcoin MPI has surged to its highest value since the April of this year, a sign that may prove to be bearish for the crypto’s price. Bitcoin Miners’ Position Index Has Spiked Up During Past Day As pointed out by an analyst in a CryptoQuant post, this instance is the fifth time that the metric has sent a warning signal. The “Miners’ Position Index” (or the MPI in short) is an indicator that measures the ratio between the miner outflows in USD, and the 365-day moving average of the same. Generally, miners transfer coins out of their wallets (that is, make outflow transactions) for selling purposes. Thus, the MPI can tell us whether miners are selling more or less right now compared to their past year average. When the value of this metric is high, it means miners are dumping more than usual currently. On the other hand, low values suggest these chain validators aren’t doing any heavy selling at the moment. Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance Now, here is a chart that shows the trend in the Bitcoin MPI over the past year and a half: The value of the metric seems to have been pretty high recently | Source: CryptoQuant As you can see in the above graph, whenever the Bitcoin Miners’ Position Index has crossed above a value of 2 during the past year, the price of the crypto has seen a decline shortly after. There have been five such spikes in 2022 so far, the latest of which has only just been recorded in the last 24 hours. Related Reading: Bitcoin Hits $17,000, But Is It Too Early To Call The All Clear On The Bear Market? This current surge has now taken the indicator’s value to the highest level since the spike back in April of this year. When this previous spike was seen, Bitcoin was above $45k, but only a week later the crypto had crashed below $40k. If the latest rise in miner selling also follows the same trend as back in April, then BTC may observe some downtrend in the coming days. BTC Price At the time of writing, Bitcoin’s price floats around $16.9k, up 3% in the last week. Over the past month, the crypto has lost 17% in value. Below is a chart that shows the trend in the price of the coin over the last five days. Looks like the price of the crypto has retreaded below the $17k level again | Source: BTCUSD on TradingView Bitcoin has surged up in the last few days, but it’s unclear whether this rise will last, given the recent increased selling pressure from the miners. Featured image from Hans-Jurgen Mager on Unsplash.com, charts from TradingView.com, CryptoQuant.com
The rulers of Dubai have created a committee that is mandated with tracking the latest developments in the digital economy. The committee is also expected to bolster the rulers’ quest to make Dubai a “key city in the metaverse.” Dubai Rulers’ Vision The Dubai rulers, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum the crown […]
On-chain data suggests the Bitcoin MPI indicator has observed a rise recently, now reaching the same values as March 2021. Past pattern may hint that a bull rally could follow here. Bitcoin MPI Seems To Be Catching Some Uptrend After Months Of Inactivity As explained by an analyst in a CryptoQuant post, the BTC MPI metric’s current trend may suggest that a bull rally could occur soon, if historical pattern is anything to go by. The “Miners’ Position Index” (or the MPI in short) is an indicator that’s defined as the ratio of the number of all Bitcoin miners’ outflows divided by the 365-day moving average of the same. In simpler terms, what this metric tells us is how the miner selling behavior is right now compared to the average over the past year. When the value of this indicator rises, it means miners are selling more BTC recently. On the other hand, the index’s value going down implies miners are turning less active as they are moving around a lower amount of coins. Related Reading | Buying Bitcoin Might Be Good Call For The Young, Legendary Trader Peter Brandt Says Now, here is a chart that shows the trend in the BTC MPI over the past few years: Looks like the value of the indicator has been on the rise recently | Source: CryptoQuant As you can see in the above graph, the quant has marked three important regions of trend for the Bitcoin MPI since 2018. It looks like, in each of these regions the index made a U-shaped curve where the metric’s value fell as the bull period ended and rose as a new rally approached. Related Reading | Bitcoin On Course To Hit $100K Nine Months From Now, Bitbull CEO Predicts For many months now, the BTC MPI has been in the middle (bear) region of such a curve. But now, it looks like the indicator’s value is catching an uptrend again, and has now reached the same values as observed back in March of last year. If the historical pattern will hold true this time as well, then the current trend formation may be leading towards the start of a new bull rally. BTC Price At the time of writing, Bitcoin’s price floats around $38.8k, up 0.5% in the last seven days. Over the past month, the crypto has lost 8% in value. The below chart shows the trend in the price of the coin over the last five days. BTC's price seems to have been trending sideways over the last few days | Source: BTCUSD on TradingView Since the sharp move up and down almost a week ago, there hasn’t been any significant volatility in the price of Bitcoin. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
Zimbabwe’s central bank, which has expressed its opposition to cryptocurrencies in the past, announced yesterday it is presently exploring the feasibility of rolling out its own central bank digital currency (CBDC). The bank also said its regulatory sandbox continues to garner interest. CBDC Roadmap The Zimbabwean central bank, the Reserve Bank of Zimbabwe (RBZ), has […]
According to the New York Times and several sources familiar with the matter, Caroline Ellison, former CEO of Alameda Research, maintained a diary on Google Documents that provides a brief glimpse into the challenges she faced before the collapse of FTX. Excerpts from the diary suggest Ellison lacked confidence in her role. After her breakup [...]
The post Ex-Alameda CEO Caroline Ellison’s Google Docs Diary Exposes Struggles Prior to FTX Collapse appeared first on Crypto Breaking News.
The entire cryptocurrency market has experienced a steep decline over the past 24 hours, with its total market cap plunging by double digits following a barrage of volatile price swings. Unsurprisingly, this sharp downturn has led to widespread liquidations among multiple assets within the past trading day. Notably, this wave of liquidations has led to over $2.22222 billion being wiped from cryptocurrencies in the past 24 hours. According to Coinglass data, Dogecoin traders have witnessed significant losses, with numbers placing the meme coin among the hardest-hit assets in this liquidation event. Dogecoin Traders Lose Over $82 Million In 24 Hours Data from Coinglass reveals that Dogecoin liquidations have been among the most severe in the market over the past 24 hours, as leveraged positions crumbled under the weight of rapid price swings. A closer look at the data shows that the vast majority of these liquidations stemmed from long positions, with bullish traders suffering losses amounting to $69.32 million. These traders, mostly expecting a rally this week or at least a stable market, were caught off guard as Dogecoins price took a sharp turn downward alongside the rest of the market, forcing liquidations and cascading losses. Related Reading: 70 Million DOGE Make Their Way To Binance Amid 10% Dogecoin Price Crash Interestingly, despite the broader trend leaning toward a price decline, short sellers were not spared from the liquidation frenzy. Data shows that $13.35 million worth of short positions were liquidated, suggesting that brief price spikes occurred during the general downtrend. These momentary surges may have triggered stop losses for some short traders, leading to forced liquidations even as the overall trajectory remained bearish. Market-Wide Liquidations Top $2.22 Billion Amid High Volatility The cryptocurrency market has kicked off the new week on a bearish note following a period of consolidation throughout the previous week. Bitcoin, which had maintained relative stability, saw a sharp decline as the weekend came to a close, breaking below the $100,000 mark on Sunday and continued to extend the downside move from there. Related Reading: Crypto Fear And Greed Index Barrels Toward Extreme Greed Again As Bitcoin Price Clears $101,000, Is This Good News? Bitcoins decline triggered a broader market sell-off, with several major cryptocurrencies following suit. At the time of writing, the global crypto market cap has dropped by approximately 11% over the past 24 hours and is now at $3 trillion, its lowest level since November 15, 2024. As such, the broader cryptocurrency market has experienced a brutal shakeout in the past 24 hours, with liquidations surpassing $2.22 billion. Bitcoin and Ethereum traders have taken the biggest hits in this liquidation spree. Bitcoin alone has recorded over $406.96 million in liquidated positions, with the majority being long trades of $341.36 million in the past 24 hours. However, Ethereum traders have experienced the heaviest liquidations, with $601 million in positions wiped out. With Dogecoin experiencing $82.67 million in liquidations, the aftermath of this sell-off could set the stage for increased volatility alongside other cryptocurrencies in the short term. At the time of writing, Dogecoin is trading at $0.235, down by 22.5% in the past 24 hours. Featured image from Adobe Stock, chart from Tradingview.com
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